EUR/USD
Price gave us a bullish cs formation after the BF786 yesterday but that trade failed and we lost 46 pips.
FOR TODAY:
Price has found support at the B low of the AB swing, we had a morning star during the Asian session and price has rallied since. We will look to buy today, maybe on a test of that morning star.
Else if price falls and takes out the B low we will have a new AB swing forming.
SHORT: WILL ONLY BE GOING SHORT IF:
We need price up at the 618/786, and then a bearish cs formation for a short trade setup. Limits for the 618 is 100 pips and the 786 is a ST to the BF786. Stops above the cs formations, max 1.5% risk.
If we don’t get the cs formations we are looking for then we don’t trade.
LONG: WILL ONLY BE GOING LONG TODAY IF:
We already got the bounce out of support, will look to buy a test of that morning star formation, limit 80-100 pips since it’s a shallow bounce, stops below the low, max 1.5% risk
If we don’t get the setup we are looking for then we don’t trade.
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